General Mills: new acquisition in animal feed sector

(CercleFinance.com) - General Mills announced on Thursday that it had acquired the American pet food manufacturer Whitebridge for $1.
45bn, in order to strengthen its position in this strategic market.

The agri-food group says it has reached a definitive agreement to acquire Whitebridge's North American dog and cat nutrition brands, including Tiki Pets and Cloud Star, from NXMH.

NXMH will retain Whitebridge's European businesses and brands.

With this transaction, General Mills says it intends to carry out its 'Accelerate' strategic plan, which aims to consolidate its positions in its core businesses, global brands and profitable niche segments, with a view to generating profitable growth that will enable it to remunerate its shareholders over the long term.

After Blue Buffalo (2018), Nudges, Top Chews, and True Chews (2021), Fera Pets (2023) and Edgard & Cooper (2024), this is the fifth acquisition made by General Mills in this field.

The Minneapolis-based group states that the acquired perimeter represents annual sales of $325m, mainly generated via pet shops and the Internet.

General Mills, which intends to finance the transaction through available resources and debt, plans to complete the acquisition during its Q3 to end-January.


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